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Germany Faces Limited Options If Nord Stream Flows Don’t Return

  • Goldman says link’s full return no longer most likely scenario
  • Gas-price forecast for third quarter raised to 153 euros/MWh
Updated on

A key pipeline delivering Russia’s natural gas to Europe may not return to full capacity after planned maintenance this month, Goldman Sachs Group Inc. said, echoing the concerns of German officials.

Nord Stream 1 is set to shut for works on July 11-21, tightening a market that’s seen prices soar in recent weeks. With Moscow having already slashed flows through the pipe to just 40% of capacity, any move to withhold supplies for longer would severely hurt Europe’s efforts to refill stockpiles for winter.